MillerKnoll (NASDAQ:MLKN) Hits New 1-Year Low – What’s Next?

MillerKnoll, Inc. (NASDAQ:MLKN) reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $21.63 and last traded at $22.81, with a volume of 182416 shares. The stock had previously closed at $24.33.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of MillerKnoll from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th.

MillerKnoll Trading Down 11.3 %

The company has a fifty day moving average price of $24.43 and a 200-day moving average price of $26.18. The firm has a market capitalization of $1.49 billion, a price-to-earnings ratio of 24.79, a price-to-earnings-growth ratio of 0.96 and a beta of 1.20. The company has a current ratio of 1.59, a quick ratio of 0.93 and a debt-to-equity ratio of 0.99.

MillerKnoll (NASDAQ:MLKN) last issued its quarterly earnings results on Wednesday, December 18th. The company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.01. The company had revenue of $970.40 million during the quarter, compared to analyst estimates of $959.60 million. MillerKnoll had a return on equity of 10.93% and a net margin of 1.80%. During the same period in the previous year, the company earned $0.59 earnings per share. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. On average, equities research analysts predict that MillerKnoll, Inc. will post 2.17 EPS for the current year.

MillerKnoll Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Saturday, November 30th will be given a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date is Friday, November 29th. MillerKnoll’s dividend payout ratio is currently 86.21%.

Institutional Investors Weigh In On MillerKnoll

Institutional investors have recently added to or reduced their stakes in the company. Hennion & Walsh Asset Management Inc. bought a new stake in shares of MillerKnoll in the 2nd quarter worth approximately $281,000. Bailard Inc. acquired a new position in shares of MillerKnoll in the 2nd quarter worth approximately $207,000. Innealta Capital LLC bought a new position in MillerKnoll in the 2nd quarter valued at $87,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in MillerKnoll in the second quarter worth $821,000. Finally, Texas Permanent School Fund Corp grew its holdings in shares of MillerKnoll by 10.7% during the second quarter. Texas Permanent School Fund Corp now owns 70,563 shares of the company’s stock worth $1,869,000 after purchasing an additional 6,833 shares during the last quarter. 87.50% of the stock is owned by institutional investors and hedge funds.

About MillerKnoll

MillerKnoll, Inc researches, designs, manufactures, and distributes interior furnishings worldwide. It operates through three segments: Americas Contract, International Contract & Specialty, and Global Retail. The company also provides seating products, furniture systems, other freestanding furniture elements, textiles, leather, felt, home furnishings and related services, casegoods, storage products, as well as residential, education, and healthcare furniture solutions.